Brent Oil Slips Below $100 as Crude Futures Fall in Early U.S. Trade

Crude oil futures moved lower in early U.S. trading, easing after recent sharp gains driven by geopolitical tensions. The global benchmark Brent crude hovered below the $100-per-barrel level, while U.S. West Texas Intermediate (WTI) futures also traded lower as traders reassessed supply risks.

Market sentiment was partly influenced by reports that the United States has allowed limited flexibility regarding sanctions on Russian oil. The U.S. Treasury permitted certain transactions involving Russian crude already at sea, a temporary measure aimed at easing supply pressures in global energy markets and helping stabilize fuel prices.

Oil prices also faced pressure after comments from the U.S. defense secretary indicating there is no clear evidence that Iran has mined the Strait of Hormuz. The waterway is one of the world’s most critical energy chokepoints, carrying roughly one‑fifth of global oil shipments, and fears of disruption have recently pushed prices sharply higher.

Despite the pullback, analysts note that geopolitical risks in the Middle East continue to dominate market sentiment. Any escalation affecting shipping through the Strait of Hormuz or further policy changes on Russian oil exports could quickly reintroduce volatility into global crude markets.